Filing taxes with an LLC?

[Casey Lance]

I was not sure where to place this post, so feel free to move it if necessary.  My apologies in advance.

I have an RV park that has been running for 3 years and I have been filing taxes under my name, and just running it as a self employed type of business. I would like to start an LLC in order to separate business from my personal assets. I am not sure how the tax process works with an LLC in Texas though.

Can I just file my taxes the same way I have been, with the same/similar forms for profit/loss? Or does an LLC have similarities to a corporation where I would need to file a lot of extra paperwork explaining what assets the park had, how much inventory of any products used at the park were left over at the end of the year, how many feet of toilet paper is left in the bathroom, ect (basically making the tax filing really complicated and a lot of extra things to keep up with)?

I read that there is some tax advantages to filing taxes with an LLC compared to a corporation because it could be done under the owners name, but I don't really understand what the differences are. If anyone could explain what I would need to do differently once the LLC is formed that would be great.